Benchmarks fall after RBI policy outcome; banking stocks drag

Mumbai: Equity indices treaded lower on Friday, weighed by banking, energy and FMCG stocks, after the RBI left interest rates unchanged but slashed the GDP growth estimate for this fiscal following the second wave of COVID-19.

Lacklustre global cues and a weak rupee also soured risk appetite, traders said.

The 30-share BSE Sensex ended 132.38 points or 0.25 per cent lower at 52,100.05, a day after closing at its lifetime

peak. On similar lines, the broader NSE Nifty slipped 20.10 points or 0.13 per cent to finish at 15,670.25.

Nestle India was the top laggard in the Sensex pack, declining 1.97 per cent, followed by SBI, HDFC Bank, ICICI Bank, Axis Bank, Titan, HUL and Reliance

Industries. On the other hand, Bajaj Finserv, ONGC, L&T, Bajaj Finance and HDFC were among the gainers, climbing up to 2.53 per cent.

During the week, the Sensex rallied 677.17 points or 1.31 per cent, while the Nifty soared 234.60 points or 1.51 per cent.

Sectorally, BSE bankex, FMCG, energy and healthcare indices fell up to 0.95 per cent, while industrials, oil and gas, capital goods and metal ended with gains. Broader BSE midcap and smallcap gauges outperformed the benchmark, rising up to 0.78 per cent.

International oil benchmark Brent crude was trading 0.38 per cent higher at $71.58 per barrel. The rupee fell 8 paise to close at 72.99 against the US dollar.